Healthcare in the United States, while excellent, is very expensive. Being without medical insurance can lead many families to bankruptcy, making it the country’s number one cause of financial problems. Hence, the frequent question arises: How to acquire low-cost health insurance?

Since 2014, with the Affordable Care Act, also known as Obamacare, healthcare became accessible to all residents in this country. This program provides assistance to the community in monthly health insurance payments, and the only condition to acquire them is that it can only be done during a brief period each year starting on November 1.

This period is crucial for many individuals and families. Therefore, here are the important points that will help you understand how to acquire low-cost health insurance:
  1. Income-based eligibility: Eligibility for low-cost health insurance is generally determined by family income. Many programs and affordable health insurance options, such as those offered through the Affordable Care Act (ACA), provide subsidies and tax credits to individuals and families whose incomes fall within certain limits set by the federal government.
  2. Citizenship or legal residency: Being a U.S. citizen or legal resident is another essential requirement to access low-cost health insurance. Government programs and affordable insurance options typically require beneficiaries to have a legal presence in the United States.
  3. Lack of access to other affordable insurance plans: In many cases, to be eligible for low-cost health insurance, individuals must demonstrate that they do not have access to affordable health insurance through an employer or other government programs like Medicaid or Medicare.
  4. Household size and number of dependents: Household size and the number of dependents can also influence eligibility for low-cost health insurance. Programs often take these factors into account when determining eligibility and the amount of financial assistance that can be received.

The requirements for obtaining low-cost health insurance typically include income criteria, citizenship or legal residency, as well as the lack of access to other affordable insurance options. Conducting thorough research, following proper procedures, and meeting requirements are essential to access this important health coverage at an affordable cost.

Would you like to learn more about acquiring low-cost health insurance? Contact our advisors at 786-577-2260.